Krystal declares bankruptcy

Krystal, the Atlanta-based burger chain loved by late-night eaters across the Southeast, officially declared Chapter 11 bankruptcy protection in an attempt to restructure and deal with between $50 million and $100 million in outstanding debts.  Founded in Chattanooga in 1932, the nation’s second oldest fast food chain moved its corporate headquarters to metro Atlanta in 2013.  Financial difficulties have forced Krystal to close nearly 50 stores in recent months, but it still operates in 10 states and employs more than 6,500 workers.  The bankruptcy hopefully isn’t the end for the South’s oldest fast-food chain, but it certainly has Krystal’s ship SINKING…